Bitcoin advocate Samson Mow suggests that Ethereum’s latest rally may be setting up for a reversal, with funds poised to rotate right back into Bitcoin.
Key Highlights:
Mow says bullish momentum in ETH is fueled by BTC holders rotating into ETH, only to later reallocate profits back to Bitcoin.
He warns of powerful selling pressure near ETH’s all-time high.
Some analysts, however, anticipate ETH will break records first and spark an altseason before capital shifts back to BTC.
Ether recently hit $4,303, marking its strongest weekly close since November 2021 after a +21% gain.
---
Mow’s Take:
Mow, CEO of BTC adoption firm Jan3, says many early ETH investors (like ICO-era insiders) already hold large BTC stacks. They’re driving ETH price pumps using new treasury narratives—only to sell once levels peak.
> “No one wants ETH in the long run,” he asserts, urging caution near the psychological all-time high—what he calls the “Bagholder’s Dilemma.”
Notably, the ETH/BTC ratio now stands at 0.036, nearly double its April low of 0.018.
> “Most ETH holders have a lot of BTC… they rotate BTC into ETH to pump it on new narratives… Once they’ve gotten it high enough, they’ll dump their ETH…” — Samson Mow (@Excellion), Aug 10, 2025
---
Alternative Perspectives:
Anthony Sassano, a prominent ETH advocate, dismisses Mow’s outlook as dated “btc-maxi rhetoric”—and sees ETH’s surge as bullish.
Meanwhile, trader Ted Pillows predicts ETH will break its ATH, trigger a short-lived altseason, before funds flow back into Bitcoin toward $140,000—and eventually cycle back into ETH and altcoins.
In past bull markets, a similar cycle played out: Bitcoin peaks first, altcoins follow. And true to form, Bitcoin dominance has dropped 10% since late June as capital seeks altcoin exposure.
---
Vitalik Buterin Sounds the Alarm:
With institutional and corporate ETH influxes increasing—like last week’s 208,137 ETH added by BitMine Immersion Technologies (now holding ~833,137 ETH worth over $3B)—Vitalik Buterin issued a cautionary note:
> “If you woke me up three years from now and told me treasuries led to ETH’s downfall… I’d say they likely over-leveraged.”
---
Final Thoughts:
Ethereum’s rally is packed with momentum, firepower, and bold narratives.
But the next leg? Could be a final surge before profit capture—and a renewed Bitcoin comeback. Watch the ETH/BTC ratio, treasury inflows, and capital rotations closely. You heard it here first.
#ETH #Bitcoin #CryptoCycles #AltSeason #CryptoTrading #SamsonMow #VitalikButerin
